He attained 150 million in 10 times compared to the former transaction, ‘diving’
Brokers “Not for sale on the market place”
Apartments in Gwangmyeong-si, Gyeonggi-do, which when rose alongside with the housing cost surge in Seoul, are falling. There have even been instances in which flats, costing practically 1 billion won, are offered for about 600 million received, down about 35%. The industry estimates that this is a gifting transaction to stay away from taxes as the price has significantly fallen. I see them as shares that have plunged in the belief that a gift would be superior than not accepting the cost.
According to the genuine transaction value disclosure procedure of the Ministry of Land, Infrastructure and Transport on the 3rd, the exceptional 89㎡ ‘Cheolsan Hanshin’ in Cheolsan-dong, Gwangmyeong-si was brokered for 650 million won on the 29th of the thirty day period last Struggling with Anyangcheon to the east, this intricate is a single of the closest flats to Seoul in Gwangmyeong as it can be achieved in 7 minutes on foot via the Cheolsan Bridge.
In November previous calendar year, the same space recorded the greatest cost of 992.5 million gained in this intricate, the place a reworking undertaking is remaining carried out. It was traded at a price tag of 342.5 million received in about 10 months. This is reduced than the similar space bought for 800 million received in the past transaction ended 10 times back.
The change with the marketplace price is also significant. The asking value was fashioned in the spot of 850 million received, 200 million gained bigger than the current transaction price tag. In this regard, officers of nearby brokerages agreed that the transaction concluded for 650 million gained was abnormal. In the serious estate marketplace, the purchasing sentiment is weakening and the cost is slipping, but it is not quick to obtain a situation where by the price tag of a property plunges by 150 million gained in 10 times.
An formal from a brokerage business in Cheolsan-dong A reported, “The product did not look for sale on the market place. An formal from Brokerage B, positioned in the elaborate, also spelled out, “It is registered as a brokerage transaction, but it is not a brokerage in this place.”
The transaction was made at a brokerage in Yeonsu-gu, Incheon. It is quite different to trading by means of a brokerage agency wherever the home is commonly positioned. Regarding this, an formal from the Ministry of Land, Infrastructure and Transport mentioned, “In the scenario of speculative transactions or present transactions, there are cases the place brokerage corporations found in other locations trade.”
Field insiders stage out that a transaction that closes at a price tag that is way too below the bordering marketplace cost is potentially a giveaway transaction. It also describes that it is unlawful for a brokerage to conduct a donation transaction.
Shim Hyung-seok, head of the Preferential Bread Real Estate Study Institute, explained, “If one particular transaction is traded hundreds of thousands and thousands have been gained under the industry rate, it can be regarded as a present.
From Se-seong, reporter at Hankyung.com sesung@hankyung.com
